Sterling Energy Share Discussion Threads

[wywcu1] 06/7/2011 08:52

The MM's have made a killing this morning. Banged the price down, took out spot-losses, and the herd of nervy sellers. They will now sell at close to original price prior to the announcement.Money for old rope!

[nickiegaul] 06/7/2011 08:40

You must remember the crew running Sterling has never found anything apart from large monthly cheques arriving in their Bank accounts.

Their surely must be a large round of bonuses to be handed out all round for the splendid effort made here

[rayrac] 06/7/2011 08:22

Hard to find a reason to stay here, the warning signs were there for some time at the previous rns. :(

[denny_blood] 06/7/2011 08:17

Well..................at least its over lol. What a disaster this share has been, never experienced anything like it to be honest. Ah well one of those things, its a hard one to take (and a few expensive lessons learned here!) but these things happen in investing. Just remember its only money, if SEY didnt take it then the Government would so it was worth a punt lol. Good luck elsewhere guys.

[woofwoof38] 06/7/2011 08:12

34p cash will be going down on a daily rate.

It won't last long.

Exploration stocks are valued on their possible productivity of hydrocarbons and not cash.

[lowersharpnose] 06/7/2011 08:10

The opening auction took a long time - the UT was reported at 8:05:43

[johncraven] 06/7/2011 08:09

what? that is excessive

[simonparker5] 06/7/2011 08:09

Crazy drop, at 28p this valued at £60m and they have about £70m in cash. They also have their production side which has earnings of about 2p a share. I thought failure was priced in at 38p, shows how much I know!

[johnmp] 06/7/2011 08:06

oops 5 minutes delayed?

[woofwoof38] 06/7/2011 08:06

24-25p

What a shocker.

[johnmp] 06/7/2011 08:06

I expect a drop today, but so far nothing?

[lowersharpnose] 06/7/2011 08:00

woofwoof - I am not sure it is burning cash at all. There is still production from Chinguetti - so there is still income (though the field is in decline)

[johnmp] 06/7/2011 08:00

no they are not woof?

[woofwoof38] 06/7/2011 07:59

SEY are burning cash like nobodys business.

The future is very bleak as the cash won't last that long.

[lowersharpnose] 06/7/2011 07:58

waba - that's $s isn't it?

An unaudited $115m at end of Q1 - call it £70m compared to yesterday's closing market cap of £80m.

[waba] 06/7/2011 07:46

SEY still has around 100m in cash, the company is valued at 83m as of yesterday

[ozzmosiz] 06/7/2011 07:43

I actually meant GKP, but XEL is a good one too.

[chesty1] 06/7/2011 07:41

"OzzMosiz - 6 Jul'11 - 07:38 - 4856 of 4857

chuck your cash into a company with proven oil that is undervalued!"

You mean XEL I am already in then thanks....

[fatmansays] 06/7/2011 07:39

looks like they've successfully drilled a big hole in a few wallets.

[ozzmosiz] 06/7/2011 07:38

chuck your cash into a company with proven oil that is undervalued!

[waba] 06/7/2011 07:36

Hopefully they will redrill where they originallly wanted to.

[hoveactually] 06/7/2011 07:30

done and dusted then.

[chesty1] 06/7/2011 07:29

I have been in these for ten years & not had one good RNS in that time....